I am contemplating buying a one bed apt in Discovery Garden which is being offered to me at 820 / sqft. Total sqft is 1257 (Net is 1001). Apt is scheduled for handover in june 08.

I need advice on the following:
1) Is it a good investment? (i'm interested in short term hold and resale)
2) What premium can i expect if i sell after 6 months?
3) is the price right?
4) What rentals can i expect?

I think price is not bad.. can you check if there is studios also?
and how much for?

Tamweel sold for 750 Dhs/sqft last August.

Rental expected around 65 -75 K for 1Br.

Current resale prices are in the range of 940 /sqft - 1000/sqft. I have searched a lot but have not found cheaper prices that's why when i was offered 820 i felt it was a very good price. What do you guys think?

1) Its not good for short term hold and resale.
2) Price is OK.
3) Rental can be around 65k
4) I went and see the building myself and I was not happy with the quality.They are new buildings , not occupied yet and I caould see cracks in the walls.Lifts are very ordinary like the cheapest one available in the market.No other facilities like gym sauna swimming pool were found ( I m not sure though they were there or not)

The facilities include swimming pool, basketball and volley ball courts, tennis courts, football pitch and jogging and cycling tracks.

don't you think 65k rent is very low. international city is now renting 1 bed for 65k. Discovery Garden location is much better than international city plus the size of this apt is also quite big - 1000 sqft net.

I feel that still its worth to go down personally and then decide.

DG was my first destination in order to start investing in Dubai, I made all arrangements with TAMWEEL ( they were giving at 720/ 730 PSF to me in last august ) and now you are getting at 820 PSF that shown that it has not appreciated as much as it should have.Whereas I invested in Sports city in September at 750 PSF and now its going for 1200 PSF. This is just an example , I am not trying to discourage you but I want to advice you to see it and then go ahead. I m not an expert but this is my experience that I m sharing with you.
Bye

Just came back from my site vist of DG. The buildings are almost finished and the finishing is really not bad at all.

About the observation that the prices have not appreciated that much... actually as i said before the market price currently is 950 - 1000, the 820 that i am getting is really a one off and almost impossible to get now. another reason why the prices have not really taken off is because financing is now not readily available on all the buildings... only the ones owned by FGB and Tamweel have financing on them which are few.

The advantage for me is that my apt has financing available plus the price is 820 therefore i think it's a good deal. what say?

If you are happpy with it then that s what you should consider the best,
I feel taht there will be many distress sale in teh market if we keep looking, becasue 90 % of investor in UAE buy OFF PLAN and that is one of the reason that ready properties does not appreciate the most after handover as compared with off plan...

I wish you all the best,